FAS details 2022 US ag exports to China
|In 2022, the total value of all U.S. agricultural and related products exported to the People’s Republic of China reached a record $40.9 billion, an increase of 14.5% compared to the previous year, the Agriculture Department’s Foreign Agricultural Service said in a report released Tuesday.|
“The PRC was again the largest market for U.S. agricultural and related exports,” FAS said in a summary.
“The export values reached in 2022 come after significant effort to rebuild the market for U.S. agriculture since 2018 when exports were $13.2 billion. Products in the ‘bulk’ category like soybeans and corn dominate the percentage share of U.S. ag exports, though ‘consumer-oriented’ products like beef, pork, poultry, dairy, and tree nuts play an increasingly important role.
“Top five U.S. export categories to the PRC in 2022 included soybeans ($17.9 billion), corn ($5.3 billion), cotton ($2.9 billion), beef and beef products ($2.2 billion), and coarse grains ($1.8 billion). In 2022, the U.S. imported $9.5 billion in agricultural and related products from the PRC, a 9.5% increase from 2021.”